BlackRock Inc. grew its position in PriceSmart, Inc. (NASDAQ:PSMT) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,319,667 shares of the company’s stock after purchasing an additional 32,748 shares during the quarter. BlackRock Inc. owned about 4.39% of PriceSmart worth $115,604,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in PriceSmart by 2.9% during the first quarter. Principal Financial Group Inc. now owns 2,857 shares of the company’s stock worth $263,000 after purchasing an additional 81 shares during the last quarter. First Midwest Bank Trust Division lifted its stake in PriceSmart by 2.3% during the second quarter. First Midwest Bank Trust Division now owns 8,694 shares of the company’s stock worth $762,000 after purchasing an additional 199 shares during the last quarter. Prudential Financial Inc. lifted its stake in PriceSmart by 8.0% during the second quarter. Prudential Financial Inc. now owns 3,632 shares of the company’s stock worth $318,000 after purchasing an additional 270 shares during the last quarter. Victory Capital Management Inc. lifted its stake in PriceSmart by 17.7% during the second quarter. Victory Capital Management Inc. now owns 1,965 shares of the company’s stock worth $172,000 after purchasing an additional 295 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in PriceSmart by 0.7% during the first quarter. California Public Employees Retirement System now owns 42,500 shares of the company’s stock worth $3,919,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.
Several research analysts have recently issued reports on the stock. TheStreet upgraded PriceSmart from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Roth Capital restated a “buy” rating and issued a $100.00 price objective on shares of PriceSmart in a report on Monday, October 2nd. BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Ifs Securities began coverage on PriceSmart in a report on Monday, September 25th. They set a “market perform” rating and a $85.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. PriceSmart presently has an average rating of “Hold” and a consensus target price of $92.50.
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PriceSmart, Inc. (PSMT) opened at 87.10 on Friday. PriceSmart, Inc. has a 52-week low of $78.00 and a 52-week high of $94.40. The company has a market cap of $2.62 billion, a PE ratio of 28.47 and a beta of 1.26. The stock’s 50 day moving average is $88.12 and its 200-day moving average is $86.17.
PriceSmart (NASDAQ:PSMT) last posted its earnings results on Thursday, October 26th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.09). PriceSmart had a net margin of 3.03% and a return on equity of 13.50%. The firm had revenue of $733.50 million during the quarter, compared to analyst estimates of $733.64 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts predict that PriceSmart, Inc. will post $3.07 EPS for the current fiscal year.
In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $84.88, for a total value of $302,257.68. Following the completion of the sale, the director now owns 125,374 shares of the company’s stock, valued at approximately $10,641,745.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.00% of the stock is currently owned by insiders.
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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